BlockFi used customer money to buy $30M insurance, creditors claim
[May 16, 2023 4:00 AM] BlockFi said selling its cryptocurrency lending platform might not generate value for creditors.
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Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research
[May 16, 2023 3:32 AM] Research suggests the lack of insurance for depositors on crypto platforms induced fear among retail and institutional clients, leading to heavy withdrawals and a liquidity crunch.
Lending Platform Atlendis Deploys Upgrade on Polygon, Opens $2M Lending Pool for Banxa
[May 16, 2023 1:00 AM] Atlendis Labs is a blockchain-based credit marketplace that offers revolving credit lines for small and medium-sized businesses and fintech firms.
MakerDAO Founder Proposes Plan for Upgraded Versions of DAI Stablecoin, Governance Token
[May 12, 2023 12:47 PM] Rune Christensen also proposed to incorporate artificial intelligence-assisted processes into Maker’s governance.
Rehypothecation May Be Common in Traditional Finance, but It Will Never Work With Bitcoin
[May 10, 2023 1:26 PM] Applying rehypothecation onto bitcoin or crypto ignores the fundamental essence of these assets arising from a core bitcoin innovation, Christopher Calicott writes.
Eligible Celsius users can withdraw all 'Distributable Custody Assets' following court approval
[May 5, 2023 3:15 PM] Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds.
Mashinsky files motion to dismiss NY AG suits, says it ‘parrots misinformation’
[May 3, 2023 11:40 AM] Former Celsius CEO Alex Mashinsky was charged with seven counts of fraud in connection with “false and misleading statements” about his company, among other things.
Bybit joins crypto exchanges offering crypto lending services
[May 2, 2023 4:18 AM] Dubai-based cryptocurrency exchange Bybit rolls out cryptocurrency lending service, joining a handful of major exchanges offering interest-bearing lending facilities.
Blur introduces NFT perpetual lending protocol
[May 1, 2023 1:15 PM] Borrowing positions automatically roll their expiry and can be refinanced should one party unilaterally decide to terminate.
Belgian Crypto Lender Bit4You Suspends Activities After Service Provider Declared Insolvent
[Apr 27, 2023 10:25 AM] Bit4You learnt of CoinLoan's insolvency on April 24 and that it no longer has the necessary registration as a digital asset custodian.
Majority of creditors want Hodlnaut liquidated
[Apr 25, 2023 12:15 PM] Only 2.42% of claimants favor restructuring, and they are almost exclusively company directors. Withdrawals were frozen in August.
Crypto Lending Protocol MakerDAO Approves Transferring a Maximum of $500M in USDC to Coinbase Custody for 2.6% Yield
[Apr 20, 2023 2:33 PM] The maneuver is part of MakerDAO’s earlier decision to move up to $1.6 billion of USDC stablecoins to Coinbase’s custody arm.
Crypto lender BlockFi is granted extra time to file Chapter 11 exit plan
[Apr 20, 2023 7:17 AM] BlockFi was granted a 48-day extension by a New Jersey bankruptcy judge to submit an exit plan, exploring a potential sale of company assets and restructuring.
Credit Agency Giant TransUnion Will Deliver Credit Scores for Crypto Lending
[Apr 20, 2023 6:00 AM] TransUnion, one of the largest credit agencies in the U.S., will provide off-chain credit scores for blockchain-based loan applications in a way that maintains the privacy of consumers.
Crypto Lender Maple Finance Opens U.S. Treasury Bill Pool for Cash Management
[Apr 19, 2023 2:05 PM] Maple’s new lending pool offers accredited investors, crypto firms and DAO treasuries a way to earn yield on their idle stablecoin holdings by investing in one-month U.S. Treasury bills.
Crypto lender Babel gets extended creditor protection in Singapore
[Apr 18, 2023 2:49 AM] Hong Kong-based Babel Finance will have more than a year to repay debts to its creditors after suspending withdrawals in June 2022.
The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy
[Apr 16, 2023 11:30 AM] Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its…
Hundred Finance loses $7 million in Optimism hack
[Apr 16, 2023 11:14 AM] The attacker reportedly manipulated the exchange rate between ERC-20 tokens and hTOKENS to steal over $7 million from the protocol.
US share of global crypto developers fell 26% in 5 years — a16z
[Apr 11, 2023 11:30 AM] In 2018, nearly 40% of all crypto developers were based in the United States, whereas in 2022, this figure had fallen to less than 30%.
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
[Apr 9, 2023 9:30 AM] The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest…
Euler Finance attack: How it happened, and what can be learned
[Apr 7, 2023 7:45 AM] The Euler Finance exploit was the largest of Q1 2023, and the risk of a similar attack on other protocols remains.
M11 Credit Resumes Crypto Lending on Maple Finance After FTX-Spurred Pause
[Apr 5, 2023 1:10 PM] The firm introduced an upgraded credit underwriting process and appointed a new head of credit. The developments came after M11 Credit suffered $36 million of loan defaults on lending protocol Maple Finance following FTX’s November collapse.
Why did 12K Bitcoin margin longs close at Bitfinex, and why didn’t it impact BTC price?
[Mar 31, 2023 2:18 PM] An unprecedented number of BTC margin longs recently closed at Bitfinex, leaving analysts searching for explanations.
Euler Finance exploiter returns another $37.1M worth of ETH and DAI
[Mar 27, 2023 2:21 PM] The exploiter originally drained $195 million worth of ETH and tokens from the protocol but has now returned around $138 million.
Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis
[Mar 27, 2023 12:30 PM] After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino…
Euler Finance blocks vulnerable module, working on recovering funds
[Mar 14, 2023 3:03 AM] Euler is working with law enforcement agencies and blockchain security firms to contact the exploiter and recover the funds.
SEC of Thailand wants public feedback on crypto lending, staking ban
[Mar 10, 2023 2:50 AM] Thailand’s securities regulator believes that crypto firms should not be allowed to deploy users’ deposits and provide lending services.
DeFi lender Tender.fi suffers exploit, white hat hacker suspected
[Mar 7, 2023 7:33 AM] DeFi lending platform Tender.fi sees $1.59 million of assets drained by alleged white hat hacker taking advantage of a misconfigured oracle.
Babel wants to repay creditors via special ‘recovery coins’: Report
[Mar 6, 2023 7:45 AM] Babel reportedly owes $524 million worth of Bitcoin, Ether and other tokens due to “risky trading activities” by co-founder Wang Li.
Bitcoin leverage ramps up as BTC's margin long-to-shorts ratio hits a record $2.5B high
[Mar 2, 2023 3:49 PM] BTC traders at Bitfinex and OKX are unwilling to use margin markets for bearish bets, creating an alarming imbalance that investors should pay close attention to.